Dimand’s share has recorded an impressive rally, which exceeds +20% on the Athens stock exchange, having climbed from 8 euros to nearly 10 euros in two months.
The founder and CEO of the real estate development company, Dimitris Andriopoulos, who controls 54.2% of the share capital, is rather satisfied with the current course of the company.
The self-made entrepreneur, who in the ‘90s opened the first McDonalds in Piraeus and then left his mark on companies such as Superfast Ferries and Ellaktor Group’s Reds, started the Dimand venture 22 years ago, when together with a group of partners he founded the property development, exploitation and management company.
Dimitris Andriopoulos gradually began to build a resounding “name” around real estate. Karela Office Park, AEK stadium in New Philadelphia, Piraeus Port Plaza, Moxy Athens City Hotel, Piraeus Tower and Minion are some of the mega projects, which bear the signature of the experienced businessman.
His impressive course was followed by the recent agreement with the Piraeus Bank for four new projects, among which stand out the redevelopment of the FIX complex in Thessaloniki and the development of a 100-stremmas waterfront area in the port of Lavrio.
Profits of 180 million euros by 2027
Based on the most recent data available, Dimand manages 20 projects, with a total area of 539,000 sq.m. and estimated value of almost 1.2 billion euros.
According to a report by Eurobank Equities, the specific projects can “generate” a cumulative profit of 180 million euros by 2027, of which 30 million euros concern only 2024 (in 2023 net profits amounted to 13.2 million euros).
The comeback in the Stock Exchange
Therefore, despite the broader underperformance in the real estate sector, Dimitris Andriopoulos sees Dimand stock recording a strong rally of more than 20% from its June 19 lows (8.09 euros), once again reaching 10 euros and covering about 50% of the way to the 12-month highs of 12.5 euros (session 23/8/2023).
The ultimate goal is, of course, to recover the 200 million euros in terms of capitalization.
